SUFFOLK, United Kingdom, May 22, 2003 (PRIMEZONE) -- Celsis International plc (Other OTC:CEITF) (LSE:CEL), is a world leading manufacturer of rapid diagnostic systems used to detect and measure microbial contamination for many of the major international pharmaceutical, personal care, beverage and dairy companies. The Company is also a leading US supplier of cGMP analytical services for the pharmaceutical industry.
Highlights:
* Profits before tax of $3.94 million 2.54 million pounds
(2002: loss of $5.67 million 3.98 million pounds)
* Group Revenue increased 8.5% to $27.1 million 18.52 million
pounds at constant rate of exchange (2002: $25.0 million
17.54 million pounds on continuing operations)
* Strong cash position as of 31 March 2003 with $6.55 million
4.15 million pounds cash at bank and in short term
investments (2002: $2.55 million 1.79 million pounds)
* Functional currency changed to US$ providing more accurate
accounting of business growth
* Product Group revenues up 8.5% to $12.2 million (2002: $11.24
million)
* Product Group Personal Care and Pharmaceutical revenues up 24%
to $7.3 million (2002: $5.9 million)
* Laboratory Group revenues up 8.5% to $14.9 million (2002: $13.7
million)
* Order book remains strong for both Product and Laboratory Group
* Healthy growth in new customers including recently announced
agreement with Boots Manufacturing
Jay LeCoque, Chief Executive Officer of Celsis, commented: "I am pleased to announce that Celsis has achieved significant increase in profits as well as solid revenue growth during this important year for our business. We have achieved growth in all market segments and continue to lead our respective industries in technology innovation and customer care. Our Personal Care and Pharmaceutical customer base now represents 82% of our revenues and the synergies between the Product Group and Laboratory Group are increasingly being realised."
Christian Madrolle, Finance Director of Celsis, added: "By reporting in US$, we shall eliminate a substantial amount of currency-related volatility from our reported results. Taking Asia into account, we generate more than 85 % of our revenue in US$. It makes it sensible to report in this currency, which underlines the dedication of the Executive Directors and the Board to the development of a spirit of transparency, accountability and integrity."
To download the full report, please click the following link: http://reports.huginonline.com/905002/118515.pdf